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Global CLO b-wic round-up: US triple Bs edge wider but 2020 bonds trade at a premium
3 years ago
The furious rally that the secondary CLO markets have gone through over the last two weeks was brought a halt by the Federal Reserve’s reminder on Wednesday night that all is still not well with the economy -
Beneath the triple C: downgrade rate slows as $8 billion of CLO loans tumble
3 years ago
May offered some respite to CLO portfolios as corporate downgrades to triple C were reduced heavily - affecting just $6.67 billion of US CLO paper and €1.09 billion of European CLO portfolios -
OC health check: some CLOs cure failures, but quarter of US deals still in breach
3 years ago
117 deals failed over-collateralisation tests in the last week, although only 46 of these were deals reporting breaches for the first time, according to the latest reports available on CLO-i -
Global CLO b-wic round up: dealer bid strengthens secondary CLO market across the board
4 years ago
The US CLO secondary market had over $1 billion listed in b-wics last week, the first time at this level in three weeks according to CLO-i. A further €270 million went on sale in the European CLO secondary market, as the dealer bid returned to assist in continued tightening across the capital stack -
Global CLO b-wic round-up: spreads tighten across the board as bond-flex CLOs trade well
4 years ago
Price levels have tightened and, more importantly, stabilised across the secondary CLO market over the last two weeks, but the Easter break led to a drop off in CLO b-wic supply -
CSAM holds second close on drawdown CLO fund
4 years ago
Credit Suisse Asset Management is set to hold a second close on a CLO fund it launched late last year. -
Beneath the triple C: $31.6 billion of CLO credits feel downgrade pain
4 years ago
March madness took a toll on CLOs as Moody’s and Standard & Poor’s downgraded 4.25% of the portfolios in the US and 1.84% in Europe to triple C or below in just one month (some of these were already triple C rated, only to fall further). -
Beneath the triple C: mighty CLO buckets from Akorns grow
4 years ago
Rating agencies went on a downgrading spree in February, with Moody’s and Standard & Poor’s cutting 20 corporate names to triple C or below – affecting $2.78 billion of paper in US CLOs and €316.6 million in European CLOs. -
Global CLO b-wic round-up: sellers flock to secondary market as trade rate hits 71%
4 years ago
The broader market sell-off reached CLOs last week, with investors lining up to list their positions in the CLO secondary market -
Back from the dead: CLO risk retention resurfaces in the US
4 years ago
Risk retention is making an unexpected comeback in the US CLO market as more managers look to structure their deals to comply with European risk retention regulations -
Global CLO b-wic round-up: that's another fine mezz you've gotten me into
4 years ago
European CLO investors are tripping over themselves to buy mezzanine paper in the secondary CLO market -
CSAM sees sun after nine years in shade
Credit Suisse Asset Management has become the leading CLO manager by assets under management globally after finally topping perennial leader GSO Capital Partners. However, CSAM's lead is the size of just one CLO4 years ago -
Global CLO b-wic round-up: equity, equity everywhere, but trading volumes sink
4 years ago
For the second week in a row, over $230 million of US CLO equity went on sale and multiple control equity positions were listed in the CLO secondary market -
Issuers fashion new outfits for junior mezz
Junior CLO tranches have lost around five points in the past quarter. In response, new issue desks are dressing up junior debt in two piece suits and designing a range of protective styles4 years ago -
Global CLO league tables at a glance - November 2019 YTD
4 years ago
Global CLO league tables at a glance - November 2019 YTD -
CSAM launches first commingled fund geared towards CLOs
4 years ago
Credit Suisse Asset Management has launched its inaugural CLO equity fund, according to market sources, collecting nearly $150 million on a first close for the strategy -
Market rallies as key CLO investor retreats
A key CLO triple A investor dropped back from the market in the second quarter of 2019, but, remarkably, CLO spreads tightened as repricings came back and other investors drove demand4 years ago -
CLO pipeline: CSAM and Octagon look to move further ahead of the chasing pack
4 years ago
The CLO pipeline in all three markets looks similar to last week with a reduction of only around $500 million in predicted new issue volumes in each of the US, European and mid market CLO spaces. But all three of these market segments look healthy with new issues and refinancings being favoured by managers -
Global CLO b-wic round-up: control equity hits the market as secondary market picks up
4 years ago
The CLO secondary market in both Europe and the US brought healthy volumes last week. There was €174.9 million listed in the European CLO secondary market, while the US returned a with just over $600 million in CLO b-wics. -
CSAM plans double CLO issuance next week with US and EU deals in the market
5 years ago
Credit Suisse Asset Management is preparing to issue two new issue CLOs next week, with one issuance on either side of the Atlantic -
Global b-wic round-up: US CLO equity continues its surge
5 years ago
Last week marked the third straight week that the US CLO secondary market has seen total listings of under $600 million, but over a quarter of that was equity. -
CLO pipeline: managers seek to return as others arrive, after testing Q1
5 years ago
With the first quarter of 2019 now in the books, the CLO market looks to be continuing where it left off. -
Creditflux reveals finalists for most competitive Manager Awards ever
5 years ago
To compile the shortlist for the annual Creditflux awards, we select the best performers in credit using a combination of detailed, data-driven metrics. The winners will be announced on 8 May -
Keep calm and buy corporate loans
5 years ago
Calm heads prevailed in 2018. Markets were volatile and risk retention was supposed to cause problems, but there was no need to panic and volumes went on to break records set in 2014 -
Global CLO league tables: new year, new issues
5 years ago
Momentum in the CLO market at the start of 2019 is less forceful than it was at the beginning of 2018 and 2017, on the basis of opening volumes
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